Universal Banking & ERP Software Products

Home » Offerings » Universal Banking & ERP Software Products » Unversal Banking Product » Why Bankmill

Why Bankmill

Bankmill is an integrated suite offering several advantages to the client. By deploying BankMill, banks gain chiefly in terms of:

• Centralized Database
• Singular Application Deployment
• Global Employee and
• Global Customer reach

Bankmill distinguishes itself by offering:

• Fully integrated solution with a variety of delivery channels such as Internet Banking, Mobile Banking, Email Alerts, Touch Screen Kiosks and IVR systems.
• High level of product definition
• Allows the bank to have double or triple checks in place by having one person make an entry, another to verify it and sometimes if necessary a third to re-verify or enable it.
• Accounts can be opened at any level including teller.
• Provision for all customer services: cash, clearing, and transfer.
• Completely parameterized standing instructions input and execution including prioritized debit from multiple accounts and rule based credit to multiple accounts.
• Statement printing is available from all the various delivery channels
• Tree Based multi level GL Head Structure
• Supports Real time and straight through transaction processing
• Facilitates Single bank-wide General Ledger, Profit & Loss and Balance Sheet for all modules
• Facilitates detailed MIS including Asset Liability Reports
• Supports Text and WYSIWYG (what you see is what you get) based Reports
• Ensures smooth Inter-branch Reconciliation
• Supports Multi Currency
• Easy to use screens which require little scrolling up and down and only relevant fields are present
• Compliance with RBI regulations including Inward Clearing File based inward clearing
• Deposit Receipt, Passbook, Remittance, Membership Certificate, Share Certificate Printing

The standard edition of BankMill™ consists of the following functionality:

• Checking Accounts
• Deposit Accounts
• Loan Accounts with NPA and Appropriation Sequence Parameterization
• Remittances
• Cashier Module
• Reconciliation
• TDS
• Member Management
• Service Branch Functionality
• KYC with CTR and STR
• Document, Photograph and Signature linking
• RBI Reports (GL, Account Level and Customer Level) including OSS
• Transaction Reports (with Multi-Branch Functionality)
• Service Charges
• Standing Instructions

Additional modules of Bankmill include:

• Lockers
• Bills Purchase
• Bills Collection
• PDC Management
• LC
• LG
• Legal
• Investments
• Payroll
• Risk Management
• ALM

Certifications